UAE licensed and regulated Venom Foundation has announced that it has registered one million Venom Wallets as of July 25th 2023.

Since April 2023, Venom was able to onboard 1 million registered wallets, reflecting the popularity of its blockchain network. Venome had launched its testnet in April 2023. 

According to the annouceent, “Venom’s success is driven by its groundbreaking technology, strict regulatory compliance, and secure, user-friendly platform that serves a wide range of users. Smooth operations and frequent updates on the Venom testnet also enhance its attractiveness, helping to draw and keep users.”

In June 2023  Venom processed a staggering 277 million transactions, a significant rise of 46% from the previous month.  The platform also witnessed a 65% increase in the number of accounts with smart contracts, which now amount to 28 million, and finally the platform also encompasses a remarkable 93% jump in minted NFTs as part of on-chain/social tasks, reaching 5.8 million.

Venom’s vision to bring blockchain technology to the masses while following regulatory compliance remains the driving force behind its exponential growth. The organization’s steadfast commitment to research and development, transparency, and strategic partnerships has placed it at the leading edge of the industry.

Venom Foundation was the first to receive a license to operate a blockchain, licensed by the Abu Dhabi Global Market (ADGM), demonstrating its compliance with international laws and rigorous governance standards.

Christopher Louis Tsu, acting CTO and CEO Venom Foundation commented, “Frankly speaking, it took me completely by surprise. We had 250,000 users in the first six days. Can you imagine opening a new shop in town, drawing the curtains back and seeing quarter of a million people lined up outside your door.”